28 Jun 2012 14:00
Dods (Group) plc
("Dods" of the "Company")
AGM Statement
The Board were obviously disappointed that the OFT decided to refer the potential acquisition of De Havilland to the Competition Commission, which meant both parties were unwilling to continue with the transaction. The Board remains committed to identifying further acquisitions opportunities to grow the Group. We have already raised £4.6 million and will be raising a further £6.2 million in a placing already announced to shareholders. This will give the Group the ability to seek out opportunities and execute them with existing facilities.
As I said in my statement at the end of May, trading continues to be hard with our staff and management working extremely hard to achieve positive operating results. We still do not have clarity on the Civil Service Learning contract but under the Civil Service reform paper we are confident this will prove to be a successful contract to the Group.
Gerry Murray has decided to step down from the Board as of today. I would like to thank Gerry for his immense contribution to Dods over the last seven years. I would like to express my personal thanks for his counsel but also his drive and determination to make Dods a success.
Although I have been on the Board for nine years the Board has asked, and I have committed, that I serve a further two years as Chairman and then step down both from the Chair and from the Board. We will begin a process to find a replacement in sufficient time to ensure a smooth transition.
For further information please contact:
Dods (Group) plc +44 (0)20 7593 5500
Keith Sadler, Finance Director
Cenkos +44 (0)20 7397 8900
Nicholas Wells / Adrian Hargrave